According to a report by Spain's Ouhua News, a series of new laws in Portugal officially came into effect this month. One of the most notable provisions is that non-EU citizens can obtain residency in Portugal by purchasing real estate worth €500,000.
According to the regulations, to obtain this residency permit, one only needs to meet any one of three criteria. These three criteria are: investing capital of over €1 million, purchasing real estate valued at €500,000, or creating 30 jobs. Investors who obtain this residency permit no longer need to apply for a residence visa at a Portuguese consulate.
With the outbreak of the global economic crisis, particularly as Western European countries have been hit hard by the banking crisis, most countries lack sufficient funds to operate and hope to ease their financial distress by attracting investment in exchange for "green cards."
Immigration experts believe that for children intending to study in Europe, they can more easily access higher education in EU countries, and the costs will be much lower than those for students from other non-EU countries.
